The freshly formed Applied Guarantee & Insurance coverage Companies will increase programs, availability
OMAHA, Neb., July 12, 2021 /PRNewswire/ — Mr. Steve Menzies, Chairman, Utilized Underwriters, nowadays introduced that the Firm has acquired the US Specialty Strains Division of Generali Team, which involves Generali Warranty Products and services, LLC, a entirely licensed obligor. This is the most recent in an ongoing series of Utilized acquisitions. Applied Underwriters will combination the Specialty Lines company into its recently formed Used Guarantee & Insurance plan Providers division. The acquisition will help the advancement and expansion of its choices nationwide.
According to Mr. Menzies, Generali procedures and contracts will be honored in the course of what will be an orderly transition: “We will immediately presume all threats on a reinsurance basis by way of North American Casualty’s Continental Indemnity Company and go quickly into new focal regions by means of the new Utilized Guarantee & Insurance plan Services division.” Mr. Menzies extra, “We applaud Jose Luis Menendez for his management in building Generali’s Specialty Lines Division a formidable entity. We welcome the team that will join him to ensure continuity.”
Mr. Menendez, who earlier served as Executive Vice President and Chief Insurance Officer as section of his 17-yr vocation at Generali’s US insurance policy operations, will serve as President of Used Guarantee & Insurance policy Products and services and will guide its US expansion with new systems understood by means of Applied’s considerable community of brokers and brokers.
Mr. Menendez mentioned, “We have various, versatile and industry-clever products that verify eminently handy in the serious worlds of guarantee, vacation insurance policy, individual electronics and this sort of specialties as celebration ticket cancellation and similar lines. Used will bolster our means to increase and provide improved and newly intended merchandise.”
The offices of Applied Warranty & Insurance coverage Providers will stay in Miami, Florida. The transaction is subject matter to the approval of the Florida Workplace of Insurance Regulation.
For further more details make contact with: Ryan Gerding, Community Relations, at +1 (913) 602-8531 or at [email protected]
About Applied Underwriters (www.auw.com)
Utilized Underwriters® is a global hazard solutions business that helps companies and people take care of uncertainty by way of its business companies, insurance and reinsurance answers. As a firm, Applied Underwriters has been distinguished by its progressive ways to client care and by its robust money energy. Used Underwriters operates widely during the US, British isles, EU and Middle East. Its operational headquarters is found in Omaha, Nebraska.
About Generali Guarantee Providers, LLC
Generali Warranty Expert services is a wholly owned subsidiary of Generali US Branch. As these kinds of, the enterprise is backed by the fiscal toughness and methods of an ‘A’ rated insurer. As section of Generali’s Specialty Traces Division, Generali Warranty Providers presents expert services for guarantee systems by applying the expertise of the Generali Group and its estimable money strength.
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